Big Week for the GBP

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Thursday’s UK general election is going to be closely watched by investors. If Boris Johnson’s Conservatives are able to secure a majority as polls last week predicted, the Pound exchange rate is likely to rise. Currently, the pound heading towards to 2019’s highs 1.3380 established last March.

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The Conservatives and Labour parties have dominated British politics for many years. However, fractures into “Leave” and “Remain” camps run through both main parties, making future voting patterns less predictable than ever. The current odds on who will be the next U.K. Prime Minister overwhelmingly point to Boris Johnson. According to political wagering website Predictit.org, Boris Johnson has an 85% chance of winning, followed by Jeremy Corbyn at 15%.

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